Summary:
GEMMA Biotherapeutics raises $34 million for rare disease therapies.
Jim Wilson, a gene therapy pioneer, founded GEMMA earlier this year.
Investment firms Double Point Ventures, Bioluminescence Ventures, and Earlybird Venture Capital co-led the funding round.
The start-up is seeking strategic partners for its gene therapy programs.
A $100 million agreement with the Oswaldo Cruz Foundation supports research on rare genetic disorders.
GEMMA Biotherapeutics Raises $34 Million
GEMMA Biotherapeutics, founded by gene therapy pioneer Jim Wilson, has successfully raised $34 million in its inaugural venture financing. This funding will be directed towards developing new gene therapies for rare diseases.
The funding round was co-led by prominent investment firms Double Point Ventures, Bioluminescence Ventures, and Earlybird Venture Capital. While GEMMA Biotherapeutics has not disclosed specific conditions or timelines for its therapies, the company is actively seeking strategic partners for its gene therapy programs.
Jim Wilson's Background
Jim Wilson has a rich history in the gene therapy field, having co-founded several companies such as Passage Bio and iECURE. This year, he announced the launch of GEMMA Biotherapeutics and the accompanying Franklin Biolabs after leaving his position at the University of Pennsylvania, where he led the Gene Therapy Program for over 20 years.
Strategic Collaborations
Currently, GEMMA Biotherapeutics has one collaboration agreement with the Oswaldo Cruz Foundation in Brazil, which includes a $100 million commitment for clinical research and manufacturing across six programs. Some of the targeted conditions include GM1 gangliosidosis, Krabbe disease, and metachromatic leukodystrophy.
For more updates on GEMMA Biotherapeutics and its groundbreaking work in gene therapy, stay tuned!
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